In the absence of any exempt income, disallowance u/s 14A & Rule 8D of the Act of any amount is not permissible

Landmark Judgement: Section 14A & Rule 8D do not apply to shares held as stock-in-trade- Maxopp Investment 402 ITR 640 (SC) distinguished

CBDT is empowered to lay down broad guidelines for disposal of appeals by CIT(A). It cannot offer ‘incentives’ to CIT(A) for making enhancement and levying penalty.

No reassessment u/s 148 merely on information without verification

There is an increase in income tax returns of 19% – CBDT Clarified

If Assessee failed to make claim for deduction under section 80-I, AO is not expected to grant it. AO is not expected to virtually sit in the office of assessee and help the assessee file the return

All B2B invoices will have to be likely generated on Govt e-bill portal fromSept to check GST evasion

Is GST registration compulsary for Dairy products?

Credit of Rejected GST Refund can claim through GSTR-3B : Gujarat HC

All about Deduction Under Chapter VI-A for AY 2019-20

Number of return filers decreased. Demonetisation – Short term failure or long term advantageous ?

Infibeam fires auditor for “sharing price-sensitive info”

How to easily calculate tax on Shares and Mutual Funds

Section 54F is a beneficial provision and should be liberally interpreted

Deduction u/s 80C – Some fine Points.

And Note : Seizure notice issued to transporter for non-payment of tax on goods, was valid, even if he was not supplier of goods

AO can impose penalty u/s 271(1)(c) if assessee fails to provide plausible explanation with regard to source of the cash deposits made in his bank account.

Capital gain exemption shall be limited to actual sale consideration and not stamp duty value